Mike Lemon with District Capital financed a $25.15 million first mortgage on a 622-bed student housing community at the University of Michigan – Dearborn in Dearborn, Michigan.
The loan provided District Capital’s client with a non-recourse/balance sheet loan that locked the rate at application.
This bank financing had a five-year fixed rate with one year interest-only, followed by a 30-year amortization.
